Central and Eastern Europe and its open approach to new technologies might be a driving motor of the continent’s online trade, as the region’s e-commerce market has noted a growth above the global average (29.1%), with a number of CEE countries in the top 30 world states in terms of e-commerce readiness.
Last year, the global e-commerce market grew by nearly one-third (27.6%) in comparison to the previous year. However, despite the increasing potential of the digital world, only 18% of European SMEs experienced e-commerce sales exceeding 1% of their total turnover.
At the same time, the average European spent about EUR 100-500 on online shopping in 2020. If Central and Eastern European countries are expected to be the driving motor of European online trade, then local businesses need to be aware of the incoming new generation of e-consumers, who have very specific habits and quirks.
With the growth of Generation Z, we at ZEN.com have observed a specific type of new e-consumer shaping up among this population.
We called them the Lazy Conquerors.
Why Lazy Conquerors?
They’re conquerors because they make many more purchases and do it much more often than ever before. They have no issues with conquering new online spaces: whether thee-store is domestic or foreign, it doesn’t matter to them. But they are also open to shopping via social media, with voice assistants or new biometric methods, and much more. Basically, technology is developing fast and they have no issues with keeping up with this pace.
But why the laziness in the name? Well, they’re eager to conquer everything, but they find it difficult to tolerate the obstacles they might meet on the way, such as slowly loading webpages, the lack of a clear returns policy, or high fees for fast delivery. They are living way too fast to be able to waste their time on such small details.
Let us show you some of the main characteristics of a typical Lazy Conqueror.
1. Impatient
Lazy Conquerors want to have everything in a matter of seconds. This is actually a characteristic of the majority of this generation, as 6 out of 10 Gen Z consumers won’t use apps or websites that load slowly or have complicated navigation, and the same number is more likely than average consumers to hang up if nobody answers their call within 45 seconds. For the majority of them, 3 to 5 days is the maximum they are willing to wait for a delivery. If something goes wrong, they are especially impatient about any extra hassle.
2. Flexible
LazyConquerors are all about trying, testing and fitting in. They want to have freedom to make returns and not worry about whether the shop will accept them.
This concerns fashion in particular, where the consumers often order various size sand variants of a specific item in order to choose the one that fits best and they like the most, and then they simply send back the rest.
3. Borderless
With an 82% growth in global cross-border trade last year, it’s no wonder that 220million Europeans made a purchase abroad in 2020. Lazy Conquerors are among them, having no issues with trusting foreign shops, particularly from China, the UK and the USA. They’re eager to conquer any e-store that provides them with an interesting offer. They appreciate localized websites for their native languages and like the whole process to be transparent, including fees for delivery and customs.
It is also important to choose a trusted payment method as 1 in 4 Europeans do not make online purchases due to concerns over transaction safety.
4. Special
Lazy Conquerors feel special. They pay attention to environmental changes, sustainability and Corporate Social Responsibility activities. This is largely because they want to feel like they support a kind of greater mission with their money.
But they also want to feel taken care of. And they can reward the seller’s efforts with their spending power. For example, e-shops offering cashback have noted a growth in order value by as much as half.
If we were to sum up our findings in a TL;DR way, we would say that, apart from having a great product or service, the most important thing is to cover all of your bases: the technicalities of a website and payment process, clear chargeback or return policies (you don’t have to rely on your lawyers – a payment hub such as ZEN.com can help you cover these and save money or time spent on chargebacks), and live support that is ready to help in case something goes wrong. That’s the basis of a great customer experience, for which Lazy Conquerors strive.
Would you be interested in hearing more about Lazy Conquerors?
We are not going to leave you dry!
In fact, we are launching a new series on our blog that puts their habits under scrutiny, from A to Z, along with taking a closer look at the e-commerce landscape in 2021.
The first letter – “A” – stands for Appreciation for Simplicity. In a fast-paced world, simplicity is often the key to the customer’s experience. This includes simple and transparent procedures, but also great attention to UI/UX issues.
Do you think that we are exaggerating? It has been shown that 64% of global consumers are more likely to recommend a brand if it provides a simple experience and communication, while 55% are ready to pay more for a simpler experience.
This means that brands are missing out on nearlyUSD 100 billion if they decide not to act on this issue.
What’s more, simplicity for consumers can result in simplicity for merchants, as a result making the e-transaction a much more pleasant experience for everyone involved.
ZEN.com is one of the solutions that help address the needs and habits of Lazy Conquerors, such as their love for a simple experience. This is possible thanks to the UI of ZEN.com solutions, as well as the simplicity of the rules it offers – both for consumers and merchants.
Stay tuned and soon enough you will have the chance to learn more about it.
Check out the full report here
sources:
https://unctad.org/webflyer/unctad-b2c-e-commerce-index-2020-spotlight-latin-america-and-caribbean
https://go.contentsquare.com/hubfs/eBooks/%5BeBook%5D%20Generation%20Z%20%7C%20ContentSquare.pdf https://www.businesswire.com/news/home/20161215005275/en/Generation-Z-Consumers-Most-Impatient-Quickest-to-Curse-Yet-Most-Likely-to-Call-Businesses-of%C2%A0Any-Demographic-Marchex-Study-Finds
The sources of data mentioned in this blog post are specified in ZEN.com’s report
